Crypto exchange opens Dublin office as Brexit looms

Coinbase has opened a fresh office in Dublin, the firm said Tuesday, as This kind of looks to broaden its European reach.

The U.S. cryptocurrency exchange operator was founded in 2012 as well as also also used to have just one office in London to serve its European Union users.

As Britain edges closer toward an exit by the EU, Coinbase has chosen Ireland to host its second European base as part of a contingency plan to continue to have access to the bloc post-Brexit.

Zeeshan Feroz, the CEO of Coinbase U.K., said the expansion to Ireland’s capital was about “looking for ways to better service our customers.”

“The EU will be our most significant market outside the U.S.,” he told CNBC in a phone interview. Coinbase says the group of 28 — as well as also also soon to be 27 — countries was its fastest-growing market last year.

While This kind of isn’t moving resources away by the U.K. to prioritize Ireland, Coinbase’s expansion echoes the sentiment among some big banks that will are trying to raise their presence across Europe to offset the impact of Brexit.

“I think that will played some part inside decision,” Feroz said of uncertainty surrounding Brexit. He added that will Ireland was a not bad fit for the firm, being an English-speaking country that will will be home to a diverse range of talent as well as also also a growing technology sector.

Coinbase will be currently hiring many customer support roles as well as also also a regulatory compliance position inside Irish capital, according to a job listing page on its website.

Michael D’Arcy, minister of state at the department of finance in Ireland, said he was “delighted” the firm was opening an office in Dublin. “This kind of decision highlights the competitive offering as well as also also attractiveness of Ireland for financial services,” he said in a statement.

The London office will be the company’s headquarters for Europe, as well as different international operations beyond the U.S. using a presence in Tokyo as well, the Dublin facility will be the start-up’s third office outside the U.S.

“Dublin will be a talent hotspot for companies like Coinbase as they scale as well as also also internationalize critical businesses operations,” Martin Shanahan, CEO of IDA Ireland, the Irish state agency tasked with attracting overseas investment, said in a statement.

“We look forward to welcoming Coinbase into the Irish economy, as well as also also helping them access our talented pool of young professionals by the technology as well as also also financial services sectors.”

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